#bitcoin

The following image illustrates a comparison between Spot Bitcoin ETFs and such stock market titans as the SPDR S&P500 ETF Trust and Invesco QQQ Trust Series 1, based on Bloomberg's data as of January 11, 2024.

The South Korean government has expressed opposition to the approval of Bitcoin or any other cryptocurrency-based ETFs, in light of the recent shifts in the U.S. financial policy. This stance was articulated by a representative of the South Korean Financial Services Commission (FSC).

On January 10, the U.S. Securities and Exchange Commission (SEC) gave its nod to a spot Bitcoin ETF, paving the way for institutional investors to more conveniently access the flagship cryptocurrency.

The NFT project Taproot Wizards, initiated through the Bitcoin Ordinals protocol, has revealed its new collection titled Quantum Cats.

Ophelia Snyder, co-founder of the cryptocurrency ETP provider 21Shares, believes that it will take several months to fully understand the impact of American Bitcoin ETFs on the market. This delay is attributed to the extensive approval processes required for these products to be available for purchase by different financial institutions, often taking up to 90 days.

The prospect of a spot Bitcoin ETF gained momentum in June with BlackRock, an investment titan managing about $10 trillion in assets, submitting its application for registration.